Engineering firm Ados Pakistan Ltd is going to delist from the Pakistan Stock Exchange (PSX) on Jan 9 after the bourse accepted its request on Thursday for going private. Engaged in the supply of oil and gas field–related equipment, Ados grappled with “serious concerns” about its ability to continue its regular operations following low sales and “structural changes” in the energy exploration an
The World Bank approved on Tuesday $1.692 billion in financing for five projects to support people living in flood-affected areas of Sindh. Pakistan was lashed by unprecedented monsoon rains over the summer that put a third of the country underwater, damaged two million homes, and killed more than 1,700 people. Out of the projects announced by the World Bank today, three support rehabilitati
Domestic gold prices continued their record-breaking spree on Tuesday as one-tola and 10-gram rates hit an all-time high of 178,800 and Rs153,292 after gaining Rs3,900 and Rs3,344 respectively. According to the All Sindh Sarafa Jewellers Association (ASSJA), the price of the yellow metal in the international market jumped to $1,808 after an increase of $12. Gold prices have risen by Rs52,800
Home remittances continue to fall. In the first five months of this fiscal year (July-November 2022), inflows of remittances totalled about $12.009 billion, down from $13.287bn in July-November 2021, according to the State Bank of Pakistan. There are several reasons for this decline of 9.6 per cent, two cyclical and one structural. Inflows through illegal channels (Hundi/Havala) and smuggling o
Defence Minister Khawaja Asif said on Tuesday that the government would approach the provinces for the implementation of a policy aimed at saving energy. The announcement comes a day after Prime Minister Shehbaz Sharif directed authorities concerned to take steps to reduce circular debt in the energy sector. “The distribution companies of Sui gas should improve the system of recovery of bill